Bitcoin Value Plummets Below $65K Amid Ongoing Market Uncertainty

Bitcoin suffered a significant drop on Monday, breaching the crucial $65,000 threshold amidst growing fears of further decline. According to CoinGecko data, roughly $464 million worth of cryptocurrency was liquidated over the past 24 hours, with 82% occurring within a single 4-hour window.

The largest liquidation order was $61.5 million on the X exchange. The market's current state has sparked concerns that Bitcoin could potentially reach as low as $45,000 in value. Some analysts have warned that a daily close above $71,000 is necessary to avoid a 'slow bleed,' while others see the $60,000 level as a potential bottom.